As you know, the Bitcoin price has grown from $ 18000 from mid-December 2020 to $ 50000 in February 2021, that is, in just 2 months and continues to grow by 2-7% every day! This means that with just one bitcoin, you can increase your capital by $ 550- $ 3500 per day (or have a part of bitcoin and make a profit as a percentage). No bank will offer such a high profit! This is the best way to avoid inflation and increase your capital!
The largest cryptocurrency Bitcoin for the first time in 12 years of its existence reached the $ 62000 mark on the exchange Binance after breaking through a huge “wall of sales”. It is now officially halfway to a six-figure price tag. The capitalization of the Bitcoin cryptocurrency is already over a trillion dollars.
The history of the growth of the rate of the first cryptocurrency can already be described in the textbook. At the time Bitcoin entered the market, it was worth a fraction of a dollar. And only in 2010 he managed to get to $ 1 per coin. Many people know a funny fact that the American Laszlo Hanech bought two pizzas for 10000 Bitcoin (at the rate of 1 BTC = $ 0,0025). If Laszlo had kept this amount of Bitcoin, then in 2021 he would have had half a billion dollars. The day of this transaction on May 22 has gone down in history as Bitcoin Pizza Day, and for many cryptocurrency enthusiasts, it serves as a fun holiday reminder of how important it was to believe in the cause and how the market has changed in 10 years.
The price threshold of $ 50000 for 1 Bitcoin is a consolation milestone for those who have had the wisdom and faith to keep their coins, bought at the peak of the rate in 2017. The despair that befell many during the 2017 market crash was paid off by this round figure for the Hodler.
At the moment, the price of more than $ 50000 for 1 Bitcoin is also a reminder to many cryptocurrency skeptics which asset is the best and more profitable. It is worth remembering only Black Thursday and Black Monday in March 2020, when a massive collapse of the cryptocurrency market took place against the backdrop of news about the coronavirus pandemic. Bitcoin then also “fell” to below $ 4000. Who would have thought in those days that after almost a year, this cryptocurrency will not only return to the pre-crisis level, but also exceed the rate of increase in the value of other assets in terms of growth rate.
The price exceeding the $ 50000 mark for 1 Bitcoin is thanks to the institutionalists who believed in the future of this cryptocurrency: Grayscale Investments Holdings, MicroStrategy, all banks that store cryptocurrencies and all famous personalities who buy Bitcoin (for example, Elon Musk, the owner of Tesla and the founder of the corporation SpaceX, which bought over 40000 Bitcoin worth $ 1,5 billion).
The main trading strategies for trading cryptocurrency are divided into the following categories:
- Scalping – allows you to get a large profit in a short period of time, but with the condition of increased risks;
- Trending strategies – usually refer to medium-term and long-term strategies, when a deal remains open from several days to a month or more;
- Level breakout strategies – they take into account the high volatility of Bitcoin, which is why almost any breakout of a support or resistance level is accompanied by a price movement with a “swing” that allows you to make good money.
The higher the selected trading time, the greater the profit and the risk of losses. Of the advantages of the long-term option, they note a small loss of time for the trade itself. The trader does not need to sit at the computer every day, it is enough to look at the current rate once or twice a day, correct transactions (open additional orders, partially close them).
How to make money on falling cryptocurrency rates?
- Option 1. You are holding $ 5 in bitcoins. If the bitcoin price fell by 000%, then the loss would be 10 USDT simply because you weren’t doing anything.
- Option 2. Before the fall, you opened a trade to sell Bitcoin for 500 USDT with a leverage of 50. When Bitcoin fell by 10%, you closed the trade and received 2500 USDT (10% = 50 USDT x 50). Thanks to one open trade, instead of a 500 USDT minus, you see +2500 USDT in your account.
Do not wait for money to start to be lost, make money not only on growth, but also on a decrease in value.
Instructions for the Binance cryptocurrency trading exchange
Working with cryptocurrencies among users is gradually becoming widespread. A certain number of sites that have appeared allows you to conduct a large number of circulating money and trading cryptocurrency transactions from anywhere in the world. One of the most popular international platforms working with cryptocurrency is. In a very short time, this exchange has taken a leading position in the cryptocurrency market due to the benefits for users. In addition, it has a developed system of organization, and is gradually expanding its scope in many countries.
The year of foundation of the popular blockchain platform is considered 2017, and the place where it first appeared is Hong Kong. Currently Binance based entirely in Malta. The developer and founder of the blockchain is Changpeng Zhao.
By 2021, the cryptocurrency exchange has expanded its sphere of influence and functionality, and is already able to offer its users more than 600 trading pairs. Besides, Binance has high liquidity for all transactions with crypto assets, including fiat ones. Simultaneously conducts any exchange speculations, and has a large arsenal of tools for margin trading with futures.
The cryptocurrency platform currently has a lot of competitors, but unlike them, its important advantages are:
- reduced commissions for operations and transactions;
- multilevel system of work and good security functions of the account;
- no requirements for verification, unlike the Bitstamp exchange;
- the ability to purchase currency for fiat, etc.
All about the history of the emergence of the blockchain platform, the fastest mastering of trading on Binance, the important nuances taken into account when registering and performing operations, we suggest to learn in detail below.
You can register on the Binance cryptocurrency exchange. Regular users give a positive assessment to the content of the Binance website, note the ease of use, constant help from the management, from the moment of registration on the site. An important point of the blockchain is that its interface is understandable and is available for many world languages - English, Russian, Spanish, Chinese, Japanese, German, French, Ukrainian and others.
The exchange has a sufficiently developed functionality that professionals and beginners can use. This allows you to perform two main modes of operation – “Basic” (basic, basic), has a light tone, and Advanced (advanced), has a richer graphics. The “Advanced” mode only works in dark mode. The difference between the first and second mode shades is manifested in the differences regarding the drawing of charts, the use of indicators, as well as the number of installed working instruments.
Registration, form filling, verification and getting started on Binance
For what to get through registration on the Binance platform to start trading cryptocurrencies, you need to follow these steps:
- Apply to create a personal account.
- Create a personal password.
- Specify email.
- Confirm the proposed captcha drawing.
- Receive a letter from the exchange, read it.
- Follow the provided link to your account.
- Start using the tools.
In more detail, it looks like this:
- On the official website Binance in the right part of the upper part open the registration form by clicking on the “Register” button.
- Fill in the fields of the standard registration application form, and indicate your email for feedback.
- At the same time, come up with a complex password from uppercase and lowercase letters, as well as numbers. You can use the passwords recommended by the blockchain platform.
- Pay attention to the third field. It is called “Referral ID”. It is necessary to indicate in it a unique code (if any) from the inviter. This action will give a small discount on trading commissions, which is very important at the beginning of work.
- Now you need to familiarize yourself with the basic Terms of Service and Action on Binance.
- Next, the user must put a sign of consent (“tick”) with the read the Terms, and confirm that he is already 18 years old.
- You will also need to select the type of account (direction) – personal or belonging to a specific company.
- Now you need to complete the mandatory registration form, which includes checking the captchas with the completed puzzles. To do this, a certain element of the puzzle, using the slider on the computer, must find its place in the overall picture.
- Next, you should wait for a letter from the exchange robot, which should come to your personal email address, and perform all the proposed actions, including confirming a valid mail.
- Then the created account is uploaded to the site, with a proposal to use Toolbars. At the same time Binance offers to go through two-factor authentication, which will protect the user account and personal account from hacking by ill-wishers.
- Additionally, to protect your own record (account), you can go through identity verification, but this is not necessary.
If the user plans to withdraw more than 2 BTC every day, as well as conduct operations with fiat money, then verification (filling out a questionnaire + providing documents) is better to go through when registering or when withdrawing money earned.
Details of data verification for large trading operations
To pass verification for professional trading, the user must click on “Identity verification”. To do this, he must select the type of account to use (personal or from the organization he represents). The advantage of verification is that it will release the largest number of coins, with an equivalent of 100 BTC.
To identify a person, you need to indicate:
- Surname and First name;
- the exact date of your birth;
- home address;
- the main document confirming the above data (citizen’s passport, or any other – driver’s license, ID-card).
After filling out the verification form, you will need to upload a photo with the pages of the provided document. The exchange will also ask for a personal selfie when filling out the account.
To complete the verification process completely, the site will request the installation of a dedicated Binance app for the mobile phone. This program will allow you to scan the code issued by the exchange system, take a selfie with head movements (right, right, left) or perform any action on the camera that the blockchain platform requests.
Then the application will be sent for processing to the site moderators, and as soon as a successful confirmation of the user’s identity occurs, he will receive a letter about this to his e-mail. From the moment the letter arrives, the user will be able to withdraw the earned money and buy cryptocurrency using fiat funds.
There is also another way of verification, which consists in the fact that they conduct a personal conversation with a specialist from the Support Service. Verification may also be required when replenishing the balance sheet.
Orders and available types of cryptocurrency
As with the YoBit exchange, Binance offers to earn a sufficient arsenal of electronic coins. For traders, there are currently 594 active trading pairs. Coins are systematized and distributed by market sectors. The following electronic units are used as currency:
- Bitcoin (BTC);
- Altcoins – Ripple (XRP), Ethereum (ETH), TRON (TRX);
- Binance Coin (BNB);
- USDⓈ – stablecoins Binance USD (BUSD), StableUSD (USDS), Paxos Standard (PAX), USD Coin (USDC), Tether (USDT), TrueUSD (TUSD).
The main fiat units on the exchange are:
- ruble (RUB):
- Euro (EUR)
- Turkish Lira (TRY);
- nigerian naira (NGN).
Binance offers trading and deals with all stablecoins, so trading with stablecoins on this site is considered the most popular.
The main orders that the exchange blockchain works with are four important types:
- Market order. It really helps to instantly close deals on transactions equivalent to the current current market prices.
- It is considered a limit order. Allows the trader to evaluate the existing price, set the desired level for the currency, upon reaching which the transaction will be closed.
- Stop-Limit. It is characterized as an order-instrument. Minimizes risk, finds ways as quickly as possible in order to avoid any losses during the acquisition or sale of a financial product. Sets the most favorable minimum price, on the fluctuations of which you can make good money. Therefore, it works by stops and limits. Exceeding the specified level is provided by the permissible limit indicator.
- OCO (One Cancels the Other). Considered a cancellation order. It helps to simultaneously place limit and stop-limit orders in the form of orders, which is considered very convenient when performing functional actions. When one of the orders is working, the second is in automatic shutdown.
For example, an asset is sold at a certain price, one oder is functioning, and the second is disabled, and does not allow getting stuck in operations at a reduced rate.
Binance balance top-up
In order to replenish your account balance with cryptocurrencies, you must perform a certain sequence of actions. Trading on a cryptocurrency exchange always starts with the following user steps:
- First, you need to go to a special section of the site’s official website, where the deposit functionality is carried out.
- Then you will need to choose exactly the amount of the asset that is needed to complete the tasks of the exchange.
- Now you need to get or copy your e-wallet address.
- Next, replenish the balance of the wallet by transferring funds for it.
- Wait for account replenishment.
- From the moment the money is credited, you can continue or start working.
During the replenishment of the account on the site, there are tips on how to correctly perform this or that action. Some assets to be entered may have their own characteristics, therefore, the sequence of entry may slightly differ from each other. But all these nuances are indicated in the instructions.
It is worth noting that Binance does not take commissions for replenishing the balance. The only exceptions are some payment channels that are used in the process for operations with funds on deposits in fiat currencies and convertible balance sheet receipts, when they are transferred to cryptoassets.
Basic ways to top up your balance
The most popular cash replenishment methods Binance cryptocurrency, fiat and ordinary are considered, performed according to the correct execution of the exchange instructions.
Cryptocurrency. In order to perform the necessary actions for crediting finance to the account, you must use the section “Exchange wallet”. It contains a subsection with the same name (“Wallet”), which is immediately shown when you click the mouse. This item will display a list with active currencies. The user must select the cryptocurrency he needs, and then click on the “Deposit” button.
The introduction of the required currency is always carried out only after the user address has been generated, to which the requested number of coins will be sent from the wallet. Getting an address is not difficult. Therefore, do not be alarmed if it is suddenly indicated on the website page Binance “Order frozen”. This formulation of the characteristics of a monetary transaction only says that the transaction in the blockchain has not been verified. Therefore, you just need to wait for the verification of the operation.
To replenish the balance without problems, you must also indicate the address of the deposit without errors. Here you need to be careful when placing your order for translation. Only those coins that are required for a specific action should be sent to the address so that they are not irretrievably lost.
Also, for some currencies, knowledge of some features is required. For example, to transfer cryptocurrencies Binance Coin (BNB) and Stellar (XLM), in addition to specifying the address, may ask for a special code (memo). This action is necessary in order for the coins to reach their destination.
Fiat funds. To make full use of fiat (cash) funds using existing trading pairs, you need to use the payment channels of Binance partners. It is easy to do this through the functionality used when depositing cryptocurrencies – a list of assets that can be conveniently opened in the menu with the “Exchange Wallet” button and the “Deposit” tab. It also uses the user’s wallet data.
When entering fiat currencies, there are the following features:
- Rubles (RUB) are entered using AdvCash, which takes 3% from the deposit account for services. The transfer process is carried out by Visa / Mastercard, or using internal electronic wallets. With promotions on AdvCash, replenishment of the exchange balance can be performed free of charge.
- Euro (EUR) is entered through AdvCash, Fasapay, and Epay. Replenishment takes place with cards and wallets.
- Nigerian Naira (NGN) only goes through bank transfer transactions.
- The Turkish Lira (TRY) is available in Turkey through the Papara payment network.
- All other types of world currencies (20 fiat) from countries such as the Czech Republic, Ukraine, Poland, etc. can be used to purchase ETH, BTC, BNB, XRP.
Popular cryptocurrencies such as LTC, BCH, and some types of stablecoins can be bought for the US dollar. All this is indicated in the instructions of the exchange, as well as the fact that the input takes place through the “Fiat / Buy Crypto” section. For this function, use the existing payment channels of partners.
The purchase of hryvnia for fiat is carried out on the same terms as for other world currencies through AdvCash. To increase the balance, use the cards of banks of the Simplex system, which takes a commission fee of 2,5%, depending on the amount of funds entered.
Payment channels for the acquisition and conversion of cryptocurrency for fiat are also Koinal, Paxful, Banxa systems, as well as a number of other gateways, the list of which is constantly being updated. But the most important thing to remember when buying any amount of an asset is the mandatory verification of the user’s identity through his account.
Binance trading recommendations
In order to start trading on a cryptocurrency platform, you must have a certain amount of balance, familiarize yourself with the conditions (instructions) of trading work and choose a leader (assigned manager) who will accompany you at the beginning of the training. All questions that arise can also be discussed with a personal contact to the Support Service of the site.
Trading steps are in the following points for users:
- You need to go from the central page to the section of the trading platform. It is called margin transactions.
- Then you need to choose the most suitable trading pair.
- Along the way, it is worth choosing the type of order.
- Next, you need to specify the price, limit, amount and functions.
- Then you need to confirm the order.
- Wait for order execution.
A detailed detailed description of the actions is in some nuances. For example, regular trading that implies spot trading includes the following nuances:
- From the moment the funds were credited to the balance part of the account used, you need to create an order using the “Exchange” tab.
- Select the desired trading mode (Advanced, Basic) in the same tab.
- Create an order, indicate the number of coins used.
- Indicate the amount of the transaction for the asset, determine the percentage. The system can recommend this percentage – 25%, 50%, 75%, 100%.
- All actions will be displayed on the chart.
For example, in February 2021, the following cryptocurrency pairs are considered the best combinations of daily trading:
- BNB / BTC;
- FUN / USDT;
- BCHABC / BTC;
- XRP / USDT;
- ETH / BTC;
- TRX / BTC.
An important feature of the site Binance it is considered that it has sufficient bandwidth, and immediately processes 1,4 million orders in 1 s.
Exchange margin functions
Since 2019, trading operations on the blockchain platform can also be carried out using margin trading. To do this, you need to do the following:
- The site Binance go to the menu and find “Wallet”, where there is a sub-item “Margin wallet”.
- At the same time, in this section, the user will need to read the instructions in the form of “Important Reminders” that are associated with the risk in this type of trading operations, and put a tick in the proposed mini-box that he is familiar with and agree with the terms.
- Next, you need to replenish the balance by transferring money from the main wallet to the margin wallet (click “Transfer” in the list of available coins).
- The implementation of trades consists in borrowing additional funds from the site, depending on the loan provided (leverage – 3-5). For example, for 1 of your coin, you can borrow 2 more.
- The borrowed funds will be credited to the account – from this moment you can carry out transactions. But for every 1 hour of using the money, the site takes the established interest rate.
The terminal through which the margin passes looks the same as the other ways of receiving funds, and the orders in trading operations are similar. The difference is only in additional switching of buttons (normal mode, credit and its repayment).
Any actions with your own or borrowed assets can increase profits or lead to a complete loss of finance. Therefore, experienced traders recommend that beginners study margin trading in more detail, which is described in the exchange manual.
Trading in futures
The blockchain platform provides users with the opportunity to trade futures contracts. To do this, you will need to place bets on a possible change in the cryptocurrency price, even if it is not yet available from this trader. This section of the platform provides the ability to work with the following assets:
Despite the fact that the assets in this section are presented in small quantities, the credit range for margin trading is quite high. The values for BTC can be selected in the range 1-125, and for LTC – 1-75. This will allow you to work with large positions at minimum rates. The only thing is that choosing the largest leverage will significantly increase the risk of losing your invested money.
At the beginning of trading on crypto-derivatives, you need to open an account, indicated as Binance Futures. To do this, you will need to confirm your intention using the 2FA code, and perform a transfer (“Transfer”) of USDT from a valid personal wallet Binance to a futures account. Only after that will it be necessary to start working on transactions.
Long / short on Binance Futures is considered a pretty advanced interface. It differs from others in a darker graphic design of the page, where technical indicators are clearly visible on an interactive chart, and there are also panels containing detailed information about the margin, the number of used and recommended orders. Also, a feature of this design is that only 3 orders are used, since OCO is not included in the interface.
Binance Futures recommends performing actions with small leverage (from 1x to 20x), and using not the entire deposit, but only a small part of it, in dealing with transactions. This will protect against possible risks that are often encountered when trading futures, and will not allow the trader to be left without funds on the account.
Rules for withdrawing money from the exchange
Binance established the following procedure for withdrawing money to your account (electronic, card):
- Go to your own “Wallet”.
- Select the desired asset.
- Click on the function “Withdraw funds”.
- Additionally, specify the wallet for withdrawal and a specific amount of money.
- Confirm the transfer operation.
And vice versa, the replenishment of the user’s account occurs in the reverse order. If money is withdrawn in cryptocurrency, then when performing the same actions as indicated above (opening a “Wallet” and specifying the function “Withdraw funds”), you will need:
- Fill out the form provided by the site.
- Specify the amount to be withdrawn and the external address of the wallet used by the user.
- If the platform asks for, you must also additionally indicate “memo”, and also be sure to confirm the transaction by pressing the button and indicating the 2FA code.
- Click on the link of the letter from Binance.
- Check the correctness of the application.
The nuances of withdrawing cryptocurrencies primarily depend on the type that the user wants to withdraw. Detailed information on each variety can be found in the “Help” section.
Fiat currency is listed on the website in the list of trading assets. It is withdrawn according to the general principle, similar to cryptocurrencies, through the initiation of the “Withdraw funds” action. Here, the user must also fill out a form, indicating his desire by pressing the necessary buttons. The trader must also indicate the required amount and the channel through which the transaction will take place.
The rules for withdrawing fiat currencies are as follows:
- Rubles and dollars – using AdvCash (electronic wallet, bank card). The general commission is 1,5% + 50 RUB.
- Euro – use of Okaypay, Perfect Money, Epay and Payeer channels.
- Nigerian NGN and Turkish Lira TRY are withdrawn through the same channels as Euro + Papara terminal. Bank transfer is used more here.
You can also withdraw various cryptocurrencies (BTC, LTC, ETH, BNB, XRP, BCH) and stablecoins (TUSD, BUSD, PAX, USDT) in hryvnias (UAH), Indian rupees (INR), Kazakh tenge (KZT), as well as Chinese yuan (CNY). All necessary withdrawal operations are carried out in the section for purchasing cryptocurrencies for received (earned) fiat (“Fiat / Buy Crypto”) in the “Sell” tab.
Commissions and discounts when withdrawing money from the exchange
Any cryptocurrency conversions to fiat are subject to Binance commissions. The cash equivalent for transactions is considered low, which is why it is especially attractive. As a rule, trading commissions average 0,1% for makers (who create an order) and takers (who buy out an order).
Also, in addition, the exchange periodically provides good discounts to makers (0,015%) and takers (0,03%), in the process of their interaction with the site, and depending on the size of the accumulated balance for 1 working month, calculated in BTC.
The exchange provides good opportunities to save on trading commissions, especially for large transactions. This is especially beneficial for BNB holders. In February 2021, BNB users are offered a 25% discount. For all other traders, there is a special system of interest concessions, which has been in effect since 2018 – it allows you to gradually reduce the percentage by 2 times. The following discounts are valid on the blockchain platform:
- One (1) year – 50%.
- Two (2) years – 25%.
- Three (3) years – 12,5%.
- Four (4) years – 6,75%
- Five (5) years – 0%.
The more a trader interacts with Binance, the more trades he makes, the more opportunities he has to gradually lower the percentage and increase his own balance. It is worth noting here that each of the presented cryptocurrencies has its own characteristics, which are indicated in the instructions on the site for working and withdrawing money.
Some functions for them may be disabled, so it is recommended to check your settings often. For example, if the site reports that BNB is unavailable (disabled), then it will need to be enabled in the account settings section, where the “Toolbar” is indicated.
In order to reduce fees using BNB, users can use Binance API. This software interface, as a trading tool, provides the ability to access the account for all external applications. The API itself configures and automates trading using bots, and when connecting other terminals. In practice, TabTrader is often used in this case.
Connection to an additional terminal is made by enabling two-factor authorization, creating a unique personal API key, which is saved in a specific section of the profile.
API key management on the Binance blockchain platform
In order for the user to be able to exercise management functions on Binance, he must perform the following actions:
- Come up with a name for the new key, and enter it in the requested line.
- Click on the “Create” button.
- Confirm the creation of 2FA and click on “Confirm new API key” located in the letter sent by the site.
- The key must appear in the “API Sheet” enumerations.
To use the API key and your own secret key to conduct trade operations, you need to scan the QR code that will be displayed on the page. To do this, you can use any third-party application offered by the exchange. Using the scanned keys, it will be possible to configure access restriction for the selected IP addresses – this action will determine its functions, purpose and rights.
Traders for the API mainly include options such as “Enable trading”, “Read only”, but you can also separately configure access to trades with futures or margin trading. Also, setting up the API helps to withdraw funds, although often this method is not recommended by the exchange.
The QR code is displayed together with the secret key only once, then they will be hidden. Therefore, the user must copy them and save for himself in order to use them later, if necessary.
Exchange security and protection features
Binance refers to those cryptocurrency trading platforms that can freely declare that they have a guaranteed and well-established security system for all trading operations, data and user balance accounts. The exchange protection functions are provided by the following technical measures:
- Mandatory standard check of the coincidence of the invented user pair – username / password.
- Solving the puzzle from the “captcha”. It has the form of puzzles that you need to collect with clicks with the mouse, each time you log into your account. This is how the personality is confirmed (“I am a man”).
- Using 2FA (two-factor authentication). Using phone data, setting up account security through the site notification system and receiving a unique code by SMS. Also, the exchange can use the Google Authenticator program, which allows you to perform the most reliable protection against any external hacks.
- Security Key. Mandatory binding of a physical key, such as This key will need to be connected via NFC or USB constantly, each time you log into your account, in order to confirm your personal login. This method is paid, but the most proven. Its cost is up to $ 650.
- Anti-phishing code. Added to your account, in the form of an invented word or phrase. This display will be in emails.
- “White” addresses. This includes the listed list of wallets where the earned funds will be sent or transactions will take place. If anyone wants to use these addresses, the exchange’s security system will immediately block these attempts.
- Sign in from a new device. Most often, such attempts are regarded by the site as hacking, about which the user is notified via SMS by phone or by letter to an email address. To additionally secure himself, the user must select the device system used and indicate their model, browser, Location, OS, IP addresses and other data that will be of importance when working with the blockchain platform.
The site support service works around the clock. In order to contact the service, you need to fill out an online form on the site, send it, and wait for a response on your email. The Service does not yet have a response in real time, in a chat or in a special window, but the developers are solving this issue and finalizing the site. You often have to wait a long time for a response, since the service reacts as it processes customer requests, the number of which is increasing every year, and the number of employees is still in the same place.
Binance’s explosive growth and popularity
The cryptocurrency exchange is currently considered a fairly popular trading platform, so it does not need additional advertising. Most traders working with Binance prefer to work with Binance first. Earning cryptocurrency is not difficult with a properly developed betting strategy and pairing.
The daily turnover of financial assets of the exchange for February 2021 is more than $ 1,3 billion. That is why the blockchain platform is in the top three in terms of efficiency and liquidity, according to the designated CoinMarketCap rating.
Binance is in constant development, its functions are being modernized in accordance with innovative and digital developments. The blockchain platform for trading international cryptocurrencies operates legally (legally), and is subject to the established norms of foreign trade, in accordance with the current international legislation. The rapid development allows finding new trading platforms that interact with the site. According to the CoinMarketCap list, there are 307 of them.
The great success of Binance, with a fairly strong competition, is due to low interest rates, working conditions, a convenient and simple interface, good protection, the ability to choose work programs and platform support. The exchange has become popular with traders around the world in just a few months of its regular operation.
A little about the history of the creation of the exchange and the Binance team
Binance was created initially for a Chinese user audience. The main office of the site was located in Hong Kong. Therefore, the first traders who began to work on the site were citizens of the PRC. The main founder of the cryptocurrency company is considered Changpeng Zhao. Before implementing this project, he worked as the head of the blockchain.com team for a long time.
Changpeng Zhao was also one of the founders of the crypto startup BijieTech, as well as OKCoin. Communication and attraction of an active audience with the founder of the exchange Binance started through the social network Twitter, where he organized a whole community working with cryptocurrencies.
The head of the exchange once pointed out in one of the interviews that: “… I got acquainted with BTC for a long time, and decided to organize my own startup. It was quite clear that the future of mankind stands behind bitcoins, since they have a lot of advantages over ordinary fiat currency … “.
After the Chinese leadership of the country in 2017 began to limit the circulation of cryptocurrencies in their country, and developed a bill to close a number of cryptocurrency exchanges and exchangers, Binance changed his location and settled in Japan. But the company did not stay there for a long time, so it could not get an official state license. After that, the exchange moved to Malta, where it is located and is still located. Local banks were quite friendly towards Binance and began to actively cooperate with it.
This approach is very beneficial for the state of Malta, since now the island is officially considered the “center of the world blockchain”. The Chinese authorities are now also supportive of Binance, as they saw that the site uses the Chinese currency as foreign exchange funds. But Changpen is very grateful to the authorities that they pushed him to new heights, which put the exchange in an advantageous position (currently 3rd place) among cryptocurrency trading platforms. China intends to restore the exchange in its country again, for which the creator is very grateful.
The team of specialists working under the guidance of Changpeng Zhao are professionals in their field who are constantly improving their knowledge and skills of working with cryptocurrencies. Changpeng Zhao notes that “the team spirit in the team is like a ‘hard fork’, striving to continuously improve the results obtained.”
“Over the past 2 years, the team has added 400 new employees who are doing their job well in the company around the world, delivering the best products and services in the industry to users who are an important priority in audience engagement,” he said in an interview from July 2020 Mr. Changpeng Zhao.
Main partners of the Binance platform
According to confirmed data, the main partners Binance are:
- Belongs to the category of blockchain startups engaged in digital user identification and the official fight against money laundering. The exchange actively uses software from Chainalysis in order to track any suspicious transactions.
- It is a mobile network operating in the blockchain technology system. The exchange performs a “token exchange” with Qlink (for example, a QLC / BNB pair was exchanged for the introduction of BNB coins).
- This is a fintech company, whose responsibilities include checking payments to exclude fraudulent intent, and additional study and monitoring of all existing transactions. The introduced program into the trading platform made it possible to buy cryptocurrencies such as BTC, XRP, LTC, ETH using official bank cards.
- Deals with tokens within the BitTorrent platform. Binance can fully exchange services and trading pairs.
- An important partner specializing in the creation of a listed regulated stock exchange. Binance can work simultaneously with securities and cryptoassets.
- Kakao Klaytn. It is considered one of the leading blockchain systems. Created by South Korean mobile technology and DApps developers.
- Monitors compliance with legal relationships and statutory KYC regulations, as well as their regulatory compliance.
- CipherTrace and Elliptic are 2 important companies that operate under the AML program aimed at preventing money laundering.
The number of other partners of the site is increasing every year.
Important news and development prospects of the exchange
Latest news Binance relate to improvements and innovations regarding the circulation of cryptocurrencies, against the backdrop of respect and authority of Changpeng Zhao in the entire cryptocurrency industry. Continuous improvements concern the refinement and simplification of many functions.
For example, the USDⓈ stablecoin market was recently created. It is combined and has attracted many users from all over the world. Its own network has been operating since 2019 Binance Chain, as well as a decentralized platform Binance DEX.
Binance has been designated by trading experts as a blockchain ecosystem. Since it consists of integrated parts, it has a powerful development potential, and includes such sites as:
- Services – Binance Labs, Trust Wallet, Binance Academy, Binance Info, Binance Research, Binance Charity Foundation;
- actually the Binance.com exchange;
- net Binance Chain and Binance DEX;
- fiat crypto exchanges – Binance Uganda Binance Jersey Binance Singapore, etc.
All subdivisions are included in one system with central management, built according to the vertical type of subordination of the company. The base of the exchange uses blockchain technologies, hardware wallets, a multi-level security system, and decentralized transaction standards. So, for example, a recently organized resource Binance Labs provides comprehensive support to open source blockchain startups.
Also, in 2018, the exchange launched 8 projects, and the next year – 13 more. This, for example, Cred – an encrypted loan platform with mature products: Terra – a system for creating stablecoins, with a specially developed balance of network stability.
An investment institute was organized on the basis of the exchange, engaged in the study and development of blockchains. For example, on Binance Labs, the platform is looking for new opportunities to improve its functions, support teams, and innovative ideas for the development of financial products.
Important perspectives Binance a detailed study of the IEO resource is considered Binance Launchpad, working with crypto investment correction at the start-up stage. They should become even more secure when compared to ICOs.
The 3 main areas of the site are also developing well – these are:
- Margin trading.
- Futures trading.
- OTC trading.
These areas are characterized by the following achievements:
- Margin trading has become one of the company’s activities since the end of 2019, thanks to the implementation of the platform Binance 2.0.
- The OTC trading service was opened (July 26.07.2020, 10), which allows you to conduct transactions in the amount of more than 10 BTC.
- From September 2020, the following platforms began to work: Binance JEX and Futures, for working with any cryptocurrency transactions.
The site also plans to develop programs for the education of users of all levels. Recently presented project Binance X trains 40 developers who conduct research in the blockchain industry and the software used. Chapter Binance X Tek Chia pointed out that: “… the company’s specialists will do everything possible to create conditions and implement existing projects, using a number of exchange resources.”
Binance also wants to work in the Russian market, so I am ready to start conquering it immediately, as soon as the legislation of the Russian Federation adopts important regulatory documents on all issues related to the circulation and implementation of cryptocurrency. That is why the ruble has become convertible on the stock exchange.
The site is also actively studying the cryptocurrency adaptation market in Ukraine. It became known that representatives Binance and the Ministry of Digital Transformation of Ukraine signed a memorandum on the opening of an exchange in the country. Before that, sites were opened in other countries: Australia (Binance Lite Australia), USA, New Jersey (Binance Jersey), residents will be able to freely buy cryptocurrency in exchangers. Also, the cryptocurrency company works with fiat such as euros and pounds sterling.
You can follow all the changes in cryptocurrencies by regular fresh relevant updates, important information and news of cryptocurrencies.
The main advantages and disadvantages of the Binance exchange
Turning to the advantages and disadvantages of Binance, it is worth paying attention to the fact that this cryptocurrency blockchain platform is suitable for trading operations with cryptocurrencies, both for beginners and experienced traders. In addition, the advantages of the exchange are:
- Diverse selection of trading pairs.
- A thorough check of any available coin before listing.
- Exploring new coins and trading pairs.
- Delisting absolutely illiquid coins.
- Minimum commission fees (0,1%) that can get even lower when used in conjunction with Binance Coin.
- Decrease in fees for an account, while increasing its VIP status (0-9), in the trading system with BTC and BNB.
- No commission for funds deposited on the balance.
- Multilevel system of account and wallet protection.
- The presence of a remuneration system and a decrease in% over the years of work.
- Support for new promising projects.
- Providing all information of interest.
- Lack of mandatory verification, with the exception of working with large assets and fiat.
- Large selection of stablecoins (relevant for the “bear market”).
- Desktop version on a personal computer, as well as a mobile application.
- High-quality work of the Service Support Service.
The disadvantages of the exchange are the absence of a “shield of coins”, as on YoBit, and the commission for using the deposit of payment systems. From the above list, it can be seen that the advantages of Binance much more than cons.
Also, the company has a very profitable referral program, which means that any user can receive, in addition, income of 20-40% from the referral transaction for invited users. Moreover, the number of invited persons is not limited. The company also works in the direction of innovation, and does its best to eliminate any shortcomings and malfunctions in work.
Bitcoin dispensing faucets as a way to make money
Against the background of the popularity of the Bitcoin cryptocurrency, sites began to appear for earning cryptocurrency by visiting online resources with advertising. At first, their purpose was to attract the maximum number of users to the bitcoin trading network. Gradually, they turned into platforms for advertisers, and traffic to them is provided by a huge interest in cryptocurrency in general and Bitcoin in particular.
The advantages of this way of making money:
- There is no initial investment;
- To start, you only need a Bitcoin wallet;
- The method and time of receiving coins are selected independently by the user.
This Bitcoin faucet allows you to put together initial capital for investing in trade in a short period. There is also a drawback. The method is suitable only for those who have a lot of free time. It is he who has to “invest”, because the account is replenished relatively slowly (Satoshi is distributed on Bitcoin faucets, not whole coins).